Home Appreciation

Over time, the value of a piece of real estate will go up and down. Home values appreciate in the long term usually. But there are no guarantees in real estate, of course.

When your property appreciates you have a more valuable asset to borrow against, and you’ll make a bigger profit when you sell. There are various reasons why property values in Irvine fluctuate. So, how will you be sure what you’re purchasing today will appreciate over time? The most important element to consider is that you select a real estate agent in Irvine who is familiar with the factors that influence local prices.

What is the most influential factor affecting real estate appreciation? Many guess that it’s the economy. Naturally, interest rates, unemployment, job growth, government programs and quite a few other national factors have a noticeable influence on your property’s worth. However, your home’s value and the aspects that play the most significant role in its appreciation depend on the local Irvine economy and housing market.

Location in a community – Many of us decide to live in regions with the most helpful characteristics for families to succeed, like a close proximity to schools and work. So those areas typically appreciate, or hold their value, best.

Real estate sales trends – Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount compared to the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.

The appreciation history – Is the neighborhood thought of as desirable because of its location or affordability? Have property prices gone up or down over the last 5-10 years?

The local economy – Are local businesses hiring? Have businesses moved into or away from an area? Is there a fair combination of work in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing? Each of these pieces plays a part.

As your Buyer's Agent, I can help you find the perfect house for you, and as your Listing Agent, I'll get top dollar for your property. Call me, Irvine's real estate expert, at (714) 856-7003. I can help you make the decision that gets the outcome you want.